Tórshavn Municipality maintains tax rate and child allowance for 2025
Friday 20th 2024 on 10:04 in
Faroe Islands
The tax rate in Tórshavn Municipality and the child allowance for 2025 will remain the same as this year.
The tax rate is set at 19 percent, and the child allowance is 9,000 kroner.
A proposal for the 2025 budget was presented at a city council meeting yesterday.
Revenue is estimated to reach 1.418 billion kroner next year, representing an increase of 7.7 percent compared to this year.
When factoring in the operations of Tórshavn Harbor, total operating costs will amount to 1.075 billion kroner, which is a 7.5 percent rise from this year.
Furthermore, 241 million kroner is allocated for investments next year.
Source
(via kvf.fo)